Enterprise Content Management is often confused with Business Process Management, Document Management, Record Management, Case Management, and the list continues. Let’s make the basic concept clear first. Enterprise Content Management can be defined as a dynamic combination of certain consistent and reliable strategies, methodologies, and tools used to capture, process, manage, preserve, and deliver an organizational content which may include documents, images, records related to health and accounting, surveys, product information, emails, and web pages.
What is the need of ECM systems?
Processing, storing, and accessing unstructured information may cause bottlenecks and wearisome time stealing; such situations can be avoided with a strategic Enterprise Content Management Solution. An ECM system helps maintaining organizational regulatory compliance, increases the employee productivity, and fastens the business processes, ensuring a complete systematic organizational workflow.
The thriving demand of ECM market has lead it a vital growth from $5.1 billion in 2013 to over $9.3 billion in 2017, with a forecast of an average annual growth of 16% over the next four years.
How can you choose the best Enterprise Content Management System for your organization?
Enterprise Content Management System has become an integral part of every organization; however, when it comes to opt the one that goes the best with your organizational needs, you need to take a deep dive into the primary features provided leading Enterprise Content Management System Providers. Here’s a list of factors you must consider:
- Basic features
An ideal ECM system must incorporate the key features, Capture, Access, Manage, Integrate, Measure, and Store, in order tom eliminate the adhoc process that may expose or violate the regulatory compliance risks of your organization.
- Similarity with Content Strategy
Since ECM is closely associated with business processes and content strategies; among thousands of available Enterprise Content Management Systems, go for the one that compliments your content strategy.
- Transactional Content Management
Business Processes use necessary content to assist various drive actions and decisions, thereby, making transactional content management an important asset of an ECM system.
- Integrational Capabilities
Check for services, solutions, and technologies your ECM system incorporates to extract content and capture data. An ECM with multilingual supporting feature, adaptability to latest technologies, and other integrational capabilities should be taken into consideration.
- Data Security
When opting for an ECM system, you must ensure its security certifications and controls including data encryption and role-based accessibility.
ECM Market is projected to grow at the highest CAGR by the year 2021, with On-Premises Deployment Type being the major shareholder among other ECM Deployment Modes due to its exceptional digital rights management capabilities. North America, especially California, is the most responsive market for the latest technological advancements and thus Web Development Company California is expected to be the largest giant in the market.
According to a forecast in the ECM market, APAC is going to be the new source of attraction for ECM vendors for generating stupendous revenues from 2016 to 2021. Due to its highest rate of growth, it is expected to be the mainstream focus among Web Development Company California. Furthermore, Solution Market is also going to prosper the Enterprise Content Management Market in the near future.